The festive season may not be that merry due to low spending

 

 

The 2020 holiday season may not be all that merry for businesses as Thais are expected to spend less due to gloomy economic sentiment and lower income.

 

Bangkokians plan to spend approximately Bt29.8 billion during the New Year festival 2020, a contraction of 3.2 percent compared to last year, according to the latest survey by Kasikorn Research Center.

 

People said they want to save their money and become more cautious in their spending. Moreover, some said they have moved up their spending plans to benefit from the stimulus measures launched by the government earlier this year such as the Chim-Shop-Chai programme.

 

Full story: https://www.thaipbsworld.com/the-festive-season-may-not-be-that-merry-due-to-low-spending/

 

-- © Copyright Thai PBS 2019-12-22

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This is obviously Fake news - since on the same TV page today some reporter told us the Super rich at the Polo club say Pattaya is booming

12 minutes ago, RichardColeman said:

This is obviously Fake news - since on the same TV page today some reporter told us the Super rich at the Polo club say Pattaya is booming

That's been chukka'd out already????

People want to save their money what kin money would that be then????

Baht at six year highs vs most western currencies—due to hot money inflows at BoT.

What—me worry?

Merry Christmas and a happy New Year!

5 hours ago, rooster59 said:

The festive season may not be that merry due to low spending

The big hit will be in January when pockets are empty.

The government has just announced a new stimulus package to boost the economy.

 

It will be called the :

 

 ' Blow the last of your savings up the mall ' promotion.

 

It was recently announced that 5 million people had less than 50 baht in their bank. The governments aim is to double this to 10 million with a view to becoming the hub of empty bank accounts.

 

Prominent members of the cabinet , led by Somchai Imalrightjak

gave the new package his thumbs up and lauded it before the assembled press. Other cabinet members hailed it instead.

2 hours ago, hotchilli said:

The big hit will be in January when pockets are empty.

Along with all the Water Reservoirs.

Definitely people are not spending my wife knows a lot of the staff on the cosmetic counters and they are not hitting their targets which means they will not get their bonuses 

3 hours ago, Denim said:

The government has just announced a new stimulus package to boost the economy.

 

It will be called the :

 

 ' Blow the last of your savings up the mall ' promotion.

 

It was recently announced that 5 million people had less than 50 baht in their bank. The governments aim is to double this to 10 million with a view to becoming the hub of empty bank accounts.

 

Prominent members of the cabinet , led by Somchai Imalrightjak

gave the new package his thumbs up and lauded it before the assembled press. Other cabinet members hailed it instead.

And the banks will start charging 50 baht per month for people with less than 1000 baht in their account 

16 hours ago, Redline said:

And the banks will start charging 50 baht per month for people with less than 1000 baht in their account 

• Almost 5 million Thai depositors have less than Bt50 in their bank accounts, according to a recent joint study by Puey Ungphakorn Institute for Economic Research and Deposit Protection Agency on the savings behaviour of Thais. 
• In addition 12.2 million had an account balance less than Bt500 each.

Who has no problem? The 0.2% with accounts over Bt 10 million!

https://www.nationthailand.com/news/30379682  

Almost 17 million have no practical bank balance!

5 hours ago, Srikcir said:

• Almost 5 million Thai depositors have less than Bt50 in their bank accounts, according to a recent joint study by Puey Ungphakorn Institute for Economic Research and Deposit Protection Agency on the savings behaviour of Thais. 
• In addition 12.2 million had an account balance less than Bt500 each.

Who has no problem? The 0.2% with accounts over Bt 10 million!

https://www.nationthailand.com/news/30379682  

 

Almost 17 million have no practical bank balance!

Reading the article, it looks like most peoples the corruption money has been moved out of the country